On Friday, in the course of current trade, Shares of Cirrus Logic, Inc. (NASDAQ:CRUS), dropped -2.70%, and is now trading at $34.76.
Cirrus Logic, posted on its investor relations website at http://investor.cirrus.com the quarterly Shareholder Letter that contains the complete financial results for the first quarter fiscal year 2016, which ended June 27, 2015, in addition to the company’s current business outlook.
“Q1 was a great quarter for Cirrus Logic. We delivered solid financial results as demand for our smart codecs and amplifiers pushed revenue above the high end of our guidance,” said Jason Rhode, president and chief executive officer. “FY16 looks to be an outstanding year with a noteworthyenhance in revenue being driven by new products. We expect strong demand for our audio and voice solutions to fuel additional growth in FY17.”
Cirrus Logic, Inc., a fabless semiconductor company, develops analog and mixed-signal integrated circuits for a range of consumer and industrial markets. It offers audio products, counting codecs, analog-to-digital converters, digital-to-analog converters, active noise cancelling circuits, amplifiers, and micro-electromechanical system microphones, in addition to standalone digital signal processors.
During an Afternoon trade, Shares of Dynegy Inc. (NYSE:DYN), dipped -2.44%, and is now trading at $25.60.
Dynegy, has commenced registered exchange offers (the Exchange Offers) of:
- $2,100,000,000 in aggregate principal amount of its 6.75% Senior Notes due 2019 (the 2019 Exchange Notes), registered under the Securities Act of 1933, as amended (the Securities Act), for all of its outstanding unregistered 6.75% Senior Notes due 2019 (the 2019 Notes);
- $1,750,000,000 in aggregate principal amount of its 7.375% Senior Notes due 2022 (the 2022 Exchange Notes), registered under the Securities Act, for all of its outstanding unregistered 7.375% Senior Notes due 2022 (the 2022 Notes); and
- $1,250,000,000 in aggregate principal amount of its 7.625% Senior Notes due 2024 (the 2024 Exchange Notes and, together with the 2019 Exchange Notes and the 2022 Exchange Notes, the Exchange Notes), registered under the Securities Act, for any and all of its outstanding unregistered 7.625% Senior Notes due 2024 (the 2024 Notes and, together with the 2019 Notes and the 2022 Notes, the Notes).
Dynegy Inc., through its auxiliaries, produces and sells electric energy, capacity, and ancillary services in the United States. It operates in three segments, Coal, IPH, and Gas. The company sells its services on a wholesale basis from its power generation facilities.
Finally, MPLX LP (NYSE:MPLX) , gained 1.14% Friday, hitting its highest level.
MPLX LP, declared that the board of directors of its general partner has declared a cash distribution of $0.44 per common unit for the second quarter of 2015. This represents an enhance of $0.0975 per unit, or 28.5 percent, over the second-quarter 2014 distribution and an enhance of $0.03 per unit, or 7.3 percent, over the first-quarter 2015 distribution. Since the partnership`s initial public offering in October 2012, the board has authorized distribution enhances for 10 successive quarters, representing a compound annual growth rate of 23 percent over the minimum quarterly distribution established at the partnership`s formation. The distribution will be paid Aug. 14, 2015, to unitholders of record as of Aug. 4, 2015.
MPLX also declared that upon payment of the second-quarter distribution, the financial tests required for conversion of all of the MPLX subordinated units, which are owned by a partner of Marathon Petroleum Corporation, will have been met. Accordingly, the subordinated units will convert into common units on a one-for-one basis effective Aug. 17, 2015, the first business day following the payment of the second-quarter distribution.
MPLX LP owns, operates, develops, and acquires pipelines and other midstream assets related to the transportation and storage of crude oil, refined product, and other hydrocarbon-based products in the United States.
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